Stablecoins slowly transform into unsecured loans. For example, minting @FalconStable "Synthetic Dollar" is nothing else than giving an unsecured 0% interest loan to @DWFLabs. In return, DWF shares with you PnL from the 𝚑̶𝚒̶𝚐̶𝚑̶𝚕̶𝚢̶ ̶𝚙̶𝚛̶𝚘̶𝚏̶𝚒̶𝚝̶𝚊̶𝚋̶𝚕̶𝚎̶ ̶𝚝̶𝚛̶𝚊̶𝚍̶𝚒̶𝚗̶𝚐̶ ̶𝚜̶𝚝̶𝚛̶𝚊̶𝚝̶𝚎̶𝚐̶𝚒̶𝚎̶𝚜̶ institutional-grade yield generation strategies. To be fair, holding any stablecoin - whether USDC, USDT, or others - is effectively lending money to an entity (or DAO) without any guarantees, always requiring a degree of trust. The only truly trustless stablecoin model allows users to mint against crypto collateral, with @LiquityProtocol being a prime example.